New Android malware that mines crypto-currencies

Lookout Mobile Security recently found a new Android malware called Coinkrypt. This type of malware is not harmful as it doesn’t steal personal data or delete anything but instead it uses the smart phone hardware to mine crypto-currencies such us Bitcoin and Litecoin. Mobile hardware is not very powerful to mine Bitcoins with profit but using many smartphones that are not theirs generates profit. In order to be more difficult for users to be suspicious about Coinkrypt, it mines crypto-currencies only when the device is charging. Otherwise, the battery level will drop significantly very fast as mining Bitcoins or any other crypto-currency uses all the available resources if you don’t put a limit. This might also cause heat and damage your device if it is heated for an extensive period of time.